Tseveen

Tseveen is 48 years old and lives with her two children in Uvs province of Mongolia. Her son Nyamsambuu, 20, is a university student and daughter Demberelm, 24, is helping her mother start a boot manufacturing business. Tseveen has been working for a private company for years and obtained much experience manufacturing traditional boots and shoes. She is starting her own business making traditional winter boots with her daughter in a spare room of her house. She is taking orders from customers and produces boots by order. She is now requesting a 1,800,000 MNT loan to purchase equipment and inventory to fill orders she already has received. She has a good record with her bank statement. She is a hardworking and honest person who says, "I want to expand my business and boost my profit to help my children to get educated and be able to live on their own.".

Additional Information

More information about this loan

This loan is part of XacBank's startup loan program targeting loans to clients who are classified as very poor on the Progress out of Poverty Index (PPI). This program provides special training to startup loan recipients, and offers them an annual interest rate that is 2.4% to 3.6% lower than for standard loans. By funding this loan, you are supporting a program that helps borrowers get their businesses off the ground.

About XacBank

This loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.